Archive for category Airborne

Dolly Varden Silver Corporationannounces the results from its geophysical program at the Dolly Varden property in Northwestern BC. The geophysical models further confirm drill targets for the Company’s proposed 2014 drill program and identify several new targets.

The newly compiled geophysical data outlines key horizons at depth and other surface anomalies that are coincident with known mineral showings, geochemical and structural targets already identified on the Dolly Varden property.

The combination of airborne MAG, VTEM, ZTEM radiometric, and geochemical data, along with geological and structural mapping, was used to define priority target zones. These helped define steep linear features, syngenetic faults, lithologic contacts related to basin formation, and key fluid controlling structures. In addition, key rock units, contact zones and alteration zones most likely to be associated with mineralization, were identified.This compilation has demonstrated that the known deposits, showings, and related alteration zones are all located within a rift setting. The key rock units that infill the rift have also been identified, and these represent viable targets for Eskay Creek style VMS mineralization. Drilling will be conducted within corridors where mineralized occurrences and coincident alteration haloes point to extensive hydrothermal fluid flow. The key target areas for 2014 drilling include syngenetic VMS-style mineralization and associated feeder structures.

The review of all available geophysical models identified six targets that are being recommended for follow-up work. Three of these targets are new and are located near the northern boundary of the Dolly Varden property and three of the identified targets confirm existing targets that are already scheduled for drilling in 2014.

The geophysical data adds information about the geometry and outlines the contacts between two key geologic horizons. In particular, the geophysics tracks the DVT Horizon to the north and under the Red Point area. Prior drilling on the DVT Horizon has intersected high grade silver mineralization that remains open to the north. The geophysics was also successful in outlining the Salmon River Formation that is prospective for Eskay Creek style mineralization. The geophysical results are congruent with, confirm, and add additional information to the targets slated to be drilled in 2014.

Further, the geophysical results indicate several new targets that have the potential for additional Eskay Creek style accumulations. These newly developed targets are located on the underexplored northern section of Dolly Varden’s property. The area is several kilometers to the North from the existing historical workings and abuts neighbouring exploration properties controlled by Homestake Resource Corporation and the Homestake – Agnico Eagle Mines joint venture.

The three targeted corridors are the 1) Torbrit-Red Point Corridor – following known silver mineralization underneath Red Point, an Eskay-Creek style target; 2) Musketeer Corridor – which runs along the east side of the Kitsault river with numerous Ag-rich epithermal vein-type showings with strong potassic radiometric signatures; and 3) Wolf-Surprise Corridor where an Eskay-Creek style host formation containing silver-rich VMS mineralization was identified by the Company’s 2011 drill program.

Geology

The geology underlying the Dolly Varden property consists of volcano-sedimentary rocks belonging mostly to the lower and middle Jurassic Hazelton Group. These include intermediate volcanic and volcaniclastic rocks of the Betty Creek Formation and bimodal volcanic and sedimentary rocks of the Salmon River Formation.

The principal silver-base metal deposits of the Kitsault River valley have been interpreted as vein mineralization by early workers. Devlin (1986) reinterpreted the main deposits to be volcanic exhalative in origin. Deposits of this type are formed as sub-aqueous hot-spring type deposits on the seafloor, as products of hydrothermal solutions that have vented from sub-seafloor fracture and fault systems. Furthermore, the silver deposits of the upper Kitsault valley are mapped with important geological similarities to the Eskay Creek deposit, providing an analog for exploration on the Property.

Stellar AfricaGold Inc. announces that an airborne Magnetic/VLF survey has been completed over the Opawica and Philibert I properties in the Chibougamau area in Quebec. An exhaustive interpretation done by MB Geosolutions inc., has outlined (8) gold and (3) Cu-rich polymetallic exploration targets. The interpretation was done by analysing current survey data in association to existing INPUT EM combined with Cu till anomalies from public data sources. Two of the copper targets are located in the Opawica South Block and one in the Philibert I Block. Four (4) gold targets are located in the Opawica North Block, three (3) in Opawica South Block and one (1) target in Philibert I Block.

The Company is now planning the spring/summer reconnaissance over Opawica and Philibert I property with an emphasis on the evaluation and sampling of the targeted area. A ground IP survey should be recommended to better outline the targets that are not outcropping. Trenching and drilling should follow during summer program over selected targets.

About OPAWICA and Philibert I Property:

The Opawica and Philibert 1 properties are located in the Chibougamau-Chapais mining camp within the Tomagold/Iamgold-Vanstar-SOQUEM working area which is to date the most active exploration camp in Quebec. Among the most important gold occurrences reported in the area, we note SOQUEM Meston Lake deposit (1.2 MT @ 6.25 g/t Au), SOQUEM Philibert deposit (1.3 MT @ 5.32 g/t Au), as well as numerous high grade drill and channel sampling reported by Tomagold, Vanstar, Murgor and SOQUEM as well as the former Joe Mann gold mine that produced over 1.0 million ounces of gold.

The OPAWICA Property consists of three blocks totalling 80 mining cells recently acquired by Stellar in the area of the new Liam gold discovery of the Nelligan Project of Vanstar. The Philibert 1 property is composed of one block of four mining cells and is part of the same area.

The Philibert-I showing was discovered in 1983 by prospection, and consists of a gold mineralization associated with quartz-tourmaline-sulphides veins. Historical exploration reported grades of 31.6 g/t Au and 2.54 g/t Ag in channel sampling across exposed quartz veins, and of 18.66 g/t Au over 0.6-metre cuts in a drill hole.

Orex Minerals Inc. – announces completion of an airborne geophysical survey at its Los Crestones precious metal project, Sinaloa, Mexico. The 4,168 hectare helicopter-borne radiometric and magnetic survey was flown at 50m line spacing by MPX Geoservices Ltd. Data are being processed and results are expected in the coming weeks. In addition, Orex has signed a contract with Quantec Geoscience Ltd (“Quantec”) to undertake an 18 line-kilometre TITAN 24 DCIP (Direct Current resistivity and Induced Polarization chargeability) ground geophysical survey.

The proposed survey comprises 5 lines, each 3.6km long and 400m apart and will be the first ground geophysical survey to be conducted at Los Crestones. During the work Quantec will also collect MT (Magnetotelluric resistivity) data on the central grid line. Scheduled to commence mid-May, the survey is centred over mineralized structures previously tested by shallow diamond drilling in 2011. Orex expects the results to augment existing geophysical, geochemical and geological datasets and intends to use the results to identify additional areas for drill testing later in 2014. Surveying and clearing of grid lines is currently underway.

According to Orex’s President, Gary Cope, “The known mineralized structures may be only a portion of the bigger picture at Los Crestones. Utilization of airborne and deep penetrating surface geophysics at this stage of exploration will allow our geological team to refine drill targets for testing in the latter half of 2014. “

The property was drilled previously by Astral Mining Corporation (“Astral”) now merged with Orex (news release February 12th, 2013). In late 2011 Astral completed 2,618m of HQ and NQ diameter core drilling in 18 holes. Drilling tested three mineralized structures which outcrop at surface. Significant intercepts were identified in many of the holes and may be viewed at www.orexminerals.com/s/Drilling-LosCrestones.asp. Reported results included a best intercept of 5m averaging 39.1 g/t Au, 93.3 g/t Ag and 2.13% Cu from 55m depth in HQ drillhole 11LD011. True width of this interval from the Bohemia structure is approximately 3.53m.

LOS CRESTONES GOLD-SILVER-COPPER PROJECT SINALOA, MEXICO

The Los Crestones project totals 4,168 hectares and is prospective for economic gold, silver and copper mineralization. Mineralization includes north-south oriented structural zones hosting quartz veins, quartz stockworks and breccia fill possibly related to a deeper porphyry and/or diatreme system. Three main structural zones were targeted in the first phases of work. Corona, Bohemia and Indio are elongate structures recognized on surface as erosion-resistant silicified ribs or “crestons”. The airborne and ground geophysical programs commissioned by Orex are designed to complement ongoing geological mapping and geochemical sampling. Orex intends to develop drill targets over the summer; diamond drilling is scheduled for late 2014.

Geology and Mineralization

The property is underlain primarily by volcanic and intrusive rocks. At lower elevations andesite and dacite are seen within an erosional window in creeks and drainages and are representative of the “Lower Volcanic Sequence” commonly recognized throughout western Mexico. At higher levels the sequence is capped by rhyolites of the “Upper Volcanic Sequence”. Felsic to intermediate intrusive rocks are also observed over a large proportion of the property. The INEGI 1:50,000 G13-C12 map sheet depicts two intrusive bodies on Los Crestones though Orex geologists have observed outcropping intrusive material across the property.

Mineralization is concentrated within a series of silicified, north-south trending quartz stockwork and breccia zones most prominent in the southern half of the property. Three structures subject to the most work to date are named “Corona”, “Bohemia” and “Indio”. Historically these structures have been tested in small pits and underground workings, many of which are still accessible today, the largest comprising some 40 m of development. Additional mineralized structures have also been identified and require follow up work.

“Geophysical survey contractors routinely offer multi-parameter data to clients. For example, a helicopter-borne survey may acquire Time-domain electromagnetic (TDEM), magnetic gradiometer and even gamma-ray spectrometer data (i.e., VTEMplus, Geotech LTD). Exploration geophysicists can certainly take advantage some of the readily available multi-disciplinary (geology, geophysics and remote sensing) and multi-parameter (potential field, EM, gamma-ray spectrometry, and others) datasets for mineral exploration. However, the integration and interpretation of these datasets can be time-consuming and even challenging, especially for large-scale datasets covering large areas with diverse geological conditions. The Supervised Neural Network (NN) Targeting and Classification technique for mineral exploration described and demonstrated by Reford, Lipton and Ugalde, 2004, “Predictive Ore Deposit Targeting Using Neural Network Analysis” (http://www.pgw.on.ca/downloads.html), can be a useful and promising tool for the analysis of multi-disciplinary and multi-parameter data.

In this presentation, the properties or responses of the two feed-forward multilayer Neural Networks, Levenberg-Marquardt (NN with LM training) and Fast Classification (FCNN), as implemented in the current version by PGW, are studied in detail. The supervised NN simulations are performed on specially constructed synthetic data. Intended as a tutorial and the NNs treated as black boxes, the objectives of the exercise are twofold, to demonstrate the targeting as well as classification capabilities of the Neural Networks, and at the same time to show one of the known limitations and to suggest a way to get around it. The utility of the NN tool is demonstrated again with real cases from the Republic of Niger.”

GoldQuest Mining Corp. announces that the Company has completed an airborne ZTEM geophysical survey covering its 100% owned Tireo Project, and has initiated its 2014 exploration program. Geotech Limited of Canada has flown 3,285 kilometers of flight lines, with investigation depths reaching 1.6 kilometers, allowing the Company to quickly and effectively evaluate the geological and mineral potential of the Tireo Project.

Results of the ZTEM Survey show:

A strong correlation between the Romero and Romero South mineralization

The Romero resistivity trend extends northwards over 1 kilometer past existing drilling and 0.5 kilometers south of Romero South

Additional new trends have been identified from the survey and field crews have been mobilized for ground follow up carrying out ground geophysics, along with geological and alteration mapping

An Induced Polarization (“IP”) program has been commenced over ZTEM targets

“The ZTEM survey has revealed a strong correlation between the new survey data and mineralization at Romero and Romero South,” commented Julio Espaillat, GoldQuest’s CEO, “The survey has provided us with key insights into the conductivity, magnetism, alteration and structure of the Tireo belt, with numerous targets showing similar properties to that of Romero. We are identifying exploration targets, and plan to announce the commencement of drilling shortly, to compliment the Romero Project’s Preliminary Economic Assessment (PEA) expected in the coming weeks.”

2014 Exploration Update:Following the ZTEM survey, the Company is evaluating and ranking its regional exploration targets. The 2014 field exploration program has commenced and a focused ground IP program is underway. Insight Geophysics of Oakville, Ontario, Canada is on site completing the ground IP program. The IP program is designed to identify chargeable zones along the regional trends identified by the ZTEM survey and mapping. The starting point for the IP program was along trend and directly north of Romero. The Company anticipates that IP surveying will continue for several months. Two drill rigs are stationed at the Company’s field camp next to Romero. The Company will initially mobilize one drill rig and expects to commence drilling by the end of April.

At December 31, 2013, the Company had approximately $11 million in treasury and is funded to complete the 2014 work programs and beyond.

The data in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.

North American Nickel Inc.announces that Crone Geophysics of Mississauga, Ontario have mobilized their crews to the Imiak Hill Conduit Complex (IHCC), part of the Company’s 100% owned Maniitsoq nickel-copper-cobalt-PGM project in southwest Greenland.

Geophysical Surveys Underway

The geophysical survey work now underway consists of surface time-domain PEM and gravity surveys in the Imiak Hill Conduit Complex, where significant nickel-copper-cobalt PGE mineralization has been intersected in drill holes by the company over the past two drill seasons. These intersections include:

As preparation for the 2014 field and drill program all norite-hosted nickel sulphide mineralized drill targets were reviewed by the NAN Geological team and four invited geoscientists familiar with nickel sulphide deposits and advanced methods of interpretation of geophysical responses to nickel sulphide mineralization. The review was undertaken at a meeting convened in Winnipeg by North American Nickel with a view to expanding discovery possibilities and then confirming and prioritizing drill targets for this year’s drill program.

President Dr. Mark Fedikow P.Geo. states: “Our deepest hole to date at Imiak Hill in the IHCC intersected high-grade massive sulphide nickel-copper mineralization 185 m below surface. The new geophysical ground surveys are designed to look below that depth and define the extent and shape of our high-grade mineralized zones providing plunge, strike and dip attitudes for the mineralization. The results from these 2014 ground geophysical surveys coupled with the airborne surveys and drill results from 2012 and 2013 will assist with drill targeting at the IHCC. Our team worked last week with four seasoned and internationally experienced nickel sulphide geoscientists. The agenda included a thorough review of the IHCC and all the regional norite-hosted nickel sulphide targets identified as a priority for the 2014 season. We look forward to including them again along the path to discovery at Maniitsoq.”

The PEM Survey

The PEM system operates by placing a large loop of insulated wire on the ground through which a precisely-controlled changing current induces magnetic responses from conductors hundreds of metres deep in the ground. It can be used to detect and discriminate between a wide range of conductivities from poor (zinc), to excellent (copper and nickel). Due to its unique transmitted current waveform and its receiver’s measuring system, Crone has developed a step-response transformation of the data which extends this range of detection and discrimination into the extremely high conductance that is seen in nickel exploration. This feature has made the Crone PEM system an important part of the exploration efforts in nickel exploration camps around the world, such as the Raglan camp, Voisey’s Bay, Sudbury, Alaska, Tanzania, Western Australia, and now Greenland.

The Gravity Survey

In addition to the Pulse EM survey, Crone will carry out a gravity survey with a 2 person crew consisting of a gravity operator and a GPS operator with extensive experience in precision gravity surveys. The equipment consists of LaCoste & Romberg model G gravity meters with a reading resolution of 0.01 mGal. The differential GPS (DGPS) system is the Leica – model 1230 Dual Frequency, Dual Constellation (GPS & GLONASS) RTK, rover and Base Station with an accuracy of 1 cm + 1 ppm in separation from the base station to the rover. The crew has extensive worldwide experience and is capable of reducing the data to bouguer mGal values nightly in the field. Gravity surveys measure extremely small variations in the Earth’s gravitational field, which can be used to locate high density material such as nickel sulphide-bearing rock.

Patriot Gold Corp. a developing gold and silver exploration and production company, announces the results of an airborne magnetic survey of its Moss Gold-Silver project located in the historic and active Oatman Mining District near Bullhead City, Arizona. Results of the survey included use of magnetic, field mapping and historic mineral and workings data.

The main Moss resource and hosting structure lies along a well-defined magnetic high and includes three kilometers of unexplored potential on one structure.

Nine magnetic linear anomalies associated with know mineral occurrences and historic workings were found as part of the Moss structure, indicating potential for hosting new discoveries along these structures.

One structure includes nearly six kilometers of a mapped extension of the Gold Road deposit which previously produced nearly 500,000 ounces at 0.32 opt gold.

The implications of the new data indicate that the exploration potential of the Moss site is very good and that there is the likelihood of further discoveries on the Moss property.

Following the interpreted results of the survey, the Company’s partner Northern Vertex Mining Corp., is currently designing an exploration program to assess the potential of the additional structures identified that would run concurrently with Phase II – Operations Phase of the Moss project plan.

The survey found a total of 21 kilometers of potential strike length along the entire Moss Mine property. In addition, several other linear magnetic lows and highs were found that would require ground work to determine if they are mineralized.

In June 2013, a preliminary economic assessment of the Moss Mine Project, which did not include the current survey results, assessed the measured and indicated gold equivalency of the site at 654,000 ounces with an inferred resource estimate of 82,000 ounces.

“While the results of the survey are preliminary at this stage, this type of mapping has been the foundation for many successful early stage exploration programs,” said Bob Coale, CEO of Patriot Gold. “Considering that the historic production in the Oatman District previously exceeded 2 million ounces of gold production, we believe the survey results highlight the Moss Gold-Silver project’s high potential for additional gold discoveries which could further increase the value of this property.”

Geology of the Moss Mine Property

The project area is underlain by Tertiary quartz monzonite (a coarsely crystalline rock composed primarily of quartz, plagioclase and orthoclase) intruding Tertiary age volcanics. Precambrian basement rocks underlie the volcanics. The veins consist of quartz-calcite and lesser adularia. The Moss vein system is up to 45 feet thick and can be traced on surface for over a mile. The hanging wall of the main vein commonly has several tens of feet of stockwork veining. Dipping 40-60 degrees to the south from a high ridge, the quartz-calcite veins and stockworks are being drilled as a bulk minable gold target. Based on the results to date, Patriot believes the Moss Mine project has the potential for an economic resource of leachable gold and silver in the order of one million ounces of gold equivalent.

Dolly Varden Silver Corporationannounces that through recent geoscience modeling and ongoing interpretation, the Company has focused its primary advanced exploration target areas on three corridors within the Dolly Varden property. Work is now being done to prioritize the most prospective drill-ready targets within these corridors. The corridors and targets were chosen for their potential to best expand areas of known high-grade silver mineralization and to identify new Eskay-Creek style precious metals deposits.

The three targeted corridors are the 1) Torbrit-Red Point Corridor – following known silver mineralization underneath Red Point, an Eskay-Creek style target; 2) Musketeer Corridor – which runs along the east side of the Kitsault river with numerous Ag-rich epithermal vein-type showings with strong potassic radiometric signatures; and 3) Wolf-Surprise Corridor where an Eskay-Creek style host formation containing silver-rich VMS mineralization was identified by the Company’s 2011 drill program.

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Through recent modeling and ongoing interpretation, the Company has now moved from kilometer scale targeting to meter scale targeting within these defined corridors. The Company’s technical team is working to delineate specific drill ready targets within these corridors. An aggressive 40 to 50 hole (13,500 meter drill program) is being finalized, subject to financing.
The combination of airborne MAG, VTEM, ZTEM radiometric, and geochemical data, along with geological and structural mapping, was used to define priority target zones. These helped define steep linear features, syngenetic faults, lithologic contacts related to basin formation, and key fluid controlling structures. In addition, key rock units, contact zones and alteration zones most likely to be associated with mineralization, were identified.
This compilation has demonstrated that the known deposits, showings, and related alteration zones are all located within a rift setting. The key rock units that infill the rift have also been identified, and these represent viable targets for Eskay Creek style VMS mineralization. Drilling will be conducted within corridors where mineralized occurrences and coincident alteration haloes point to extensive hydrothermal fluid flow. The key target areas for 2014 drilling include syngenetic VMS-style mineralization and associated feeder structures.

“I want to thank you for the meeting. I see great potential for fruitful cooperation in the field of exploration, “- said Stephen Millar. Vice Minister of Industry and New Technologies Nurlan Suranbaev suggested for further cooperation JSC “Kazgeologiya”, which held preliminary talks with the companies.

Metals Creek Resources Corp. reports that the company has discovered several conductive electromagnetic targets on its recently staked, 100% owned Feagan Lake Graphite property which is located approximately 7 km due west of Zenyatta’s hydrothermal graphite discovery.

These new electromagnetic (EM) conductive responses were flown with the VTEM plus time domain system targeting previously identified magnetic lows that resulted in the discovery of several new exploration targets exhibiting similar features to that of Zenyatta’s hydrothermal graphite discovery. One of the EM responses in particular returned a strong conductive response on all channels with an associated magnetic low.

The Feagan Lake claim block consists of 12 claim blocks totaling 175 claim units and is located immediately west and adjacent to Zenyatta’s claim block. The Feagan Lake property to the best of management’s knowledge has never been flown for EM conductors making this a brand new discovery demonstrating the potential for the area to potentially host additional graphite mineralization.

Metals Creek’s President and CEO, Alexander Stares states, “With the discovery of several new EM anomalies within favorable stratigraphy to host possible additional graphite mineralization, it provides Metals Creek with an exciting new project strategically located adjacent to Zenyatta’s hydrothermal graphite discovery. This new highly conductive EM target will be the focus of additional exploration work going forward.”

Midland Exploration Inc. reports the beginning of its exploration activity on its 100% owned James Bay Éléonore Gold project located in James Bay, Québec. The first phase of the 2014 exploration program consists of a helicopter airborne magnetic geophysical survey over the Éléonore Centre property.

The Eléonore project, which encompasses the Éléonore Centre and West properties, is constituted of a total of 247 claims covering 128 square kilometres, and is located approximately 30 kilometres southwest from and in a geological environment similar to Goldcorp Inc.’s Éléonore deposit. This world-class gold deposit contains reserves of 4.03 Moz Au (proven and probable categories), combined measured and indicated resources of 4.84 Moz Au and inferred resources estimated at 4.10 Moz Au. (Source: Goldcorp press release dated February 13, 2014).

Prospecting conducted by Midland from 2009 to 2013 on the Éléonore Centre property identified the presence of several gold showings associated with quartz-tourmaline pyrite bearing veinlets occurring in sheared metasediments, as well as mafic and felsic metavolcanics which returned up to 18.8 g/t Au. These results strongly suggest that an auriferous hydrothermal system is present on the property by a strong abundance of quartz-tourmaline veins over a plurimetric area. In addition, the 2013 ground induced polarisation (“IP”) survey identified many north-south trending IP anomalies and several remain unexplained. The 2011 soil geochemistry survey permitted to delineate a series of As-Cu-Sb anomalies clustered along a north-south-trending axis. Finally, a series of parallel northeast trending AeroTEM II conductors were outlined by the 2010 airborne geophysical survey which targeted sulfide bearing Éléonore-type sediments on the northern part of the Éléonore Centre property. Some of these conductors coincide with uncovered gold-bearing disseminated to semi-massive sulfides zones identified by Midland and several EM anomalies still remain unexplained.

A high definition airborne magnetic survey covering the Éléonore Centre property was just completed, including the area covered by the 2013 IP survey. The results and interpretation of this survey, totalizing 386 linear kilometres, are pending. Furthermore, preparation for the upcoming 2014 summer exploration program on the Éléonore Centre property currently underway.

Location:

The Eleonore property is located about 450 kilometres north of the town of Matagami, in the Opinaca Reservoir area, James Bay, Quebec.

Property:

The Eleonore property consists of two claim blocks (Centre and West). The Centre Block consists of 121 claims covering a surface area of about 63 square kilometres, whereas the West Block consists of 109 claims covering about 57 square kilometres. The two blocks are located about 30 kilometres southwest of the Roberto deposit on the Eleonore property held by Goldcorp, where measured and indicated resources are estimated at 3.15 million ounces of gold and inferred resources at 6.25 million ounces of gold.

Highlights:

Covers a major N-S-trending structure between metasedimentary rocks and metavolcanic rocks interpreted as the extension of the structure occurring near the Eleonore gold deposit.

Prospecting work has uncovered many new gold showings associated with metasedimentary rocks (conglomerates and greywackes):

Golden Gun showing: 18.8 g/t Au, 13.6 g/t Au, 0.76 g/t Au

Golden Gun West showing : 1.69 g/t Au

Aston Martin showing : 1.63 g/t Au

Gold Finger showing: 1.01 g/t Au, 0.82 g/t Au

Golden Eye showing: 1.90 g/t Au, 0.90 g/t Au

Casino showing: 0.76 g/t Au, 0.64 g/t Au

Located along a regional metamorphic gradient, typical of the contact between the La Grande and Opinaca groups.

New soil (humus) geochemistry anomalies identified in the south part of the Eleonore Centre Block.

Buried beneath the glaciated terrain, valleys filled with coarse-grained permeable sediments potentially are great sources of fresh ground water. During the last several years Geological Survey of Canada has been investigating geophysical methods potential, particularly airborne electromagntics, for mapping and resource evaluation of buried valleys. Spiritwood valley aquifer in southern Manitoba has been chosen for the investigations. Heliborne AeroTEM, VTEM, fixed-wing TEMPEST and MULTIPULSE, ground electrical resistivity and time-domain methods, seismic reflection and borehole data have been involved into the complex analysis. Recently collected ground TEM data for Spiritwood and the report (G.A. Oldenborger and K. Brewer, 2014) has been released: http://geoscan.nrcan.gc.ca/starweb/geoscan/servlet.starweb?path=geoscan/fulle.web&search1=R=293700.

Another recent example of the results of a combined seismic and airborne electromagnetic (AEM) interpretation of the shallow Quaternary sedimentsand bedrock but in British Columbia (Horn River Basin) was presented on Geoconvetion-2013 .

Xmet Inc. has successfully completed a Versatile Time Domain Electromagnetic Surveying (“VTEM”) survey, comprising 437 line kilometres, over 20,000 acres of recently staked 100% owned Xmet claims on its Blackflake project.
Three electromagnetic (“EM”) bedrock targets were delineated during the latest survey, including a more detailed survey over the Prime Target discovered and announced in Xmet’s December 12th, 2013 news release. Geotech, who flew the survey and assisted in interpreting the results, have concluded that all three of the anomalies extend into the bedrock beneath overburden and limestone cover.
“A tightly spaced VTEM grid survey was flown over our Prime Target in order to obtain higher resolution over the original TDEM anomaly which was originally defined over a length of 1500 meters,” said Alexander Stewart, Chairman and CEO of Xmet Inc. He continued by saying, “VTEM technology provided much deeper penetration than the TDEM survey flown over the Prime Target in late 2013. With this latest round, the conductivity and the size of the Prime Target is confirmed. The Prime Target is defined by an electromagnetic anomaly in bedrock with an associated magnetic low. The target is geologically constrained between two major diabase dykes. Two new bedrock conductors were also discovered which have similar geophysical characteristics. We are very excited about the potential of these targets, and with our ground permits now in place we are getting closer to drilling these targets.
Xmet’s Blackflake Project comprises over 29,000 acres of 100% owned claims approximately 60km to the northwest of Hearst, Ontario and is adjacent to Zenyatta’s Hydrothermal Graphite Deposit. Xmet has now conducted three airborne electromagnetic surveys, VTEM and TDEM, which discovered multiple electromagnetic conductors making the targets highly prospective for further exploration. Xmet has developed an excellent working relationship with the Constance Lake First Nation, with whom the company signed an ongoing Exploration Agreement.

Aura Silver Resources Inc. announces the results of a comprehensive report completed by L.E Reed Geophysical Consultant Inc. (“Reed”) which supports, from a geophysical standpoint, drill targets established geochemically by Activation Laboratories Ltd. (Actlabs) Spatiotemporal Geochemical Hydrocarbon (“SGH”) technology for the Aura Lake area as well as the Dingo prospect north-west of Aura Lake, both part of the Greyhound Project, NU.

As reported by Reed, “Correlations between the geochemistry and various geophysical data suggest support for the possible identification of gold and silver deposits at Aura Lake and a gold and copper deposit at Dingo”. This report may be accessed at the Company’s web-site (http://www.aurasilver.com/s/Home.asp) under the section Projects / Canada.

The potential sources of high-grade gold boulders (up to 28 g/t) and high-grade silver (up to 5,300 g/t) have been identified in close proximity to Aura Lake. The gold and copper targets at the Dingo prospect area north-west of Aura Lake are surface showings. New interpretation of geophysical data and SGH has refined the drill targets. This geophysical analysis has identified multiple structures/contacts with the use of three-dimensional inversion imagery of airborne VTEM EM and magneticresponses and ground Induced Polarization and Resistivity data. These structures/contacts at Aura Lake may have provided a pathway for fluids carrying mineralization and are interpreted to support the drill targets originally defined by geochemical analysis.

Robert Boaz CEO and President of Aura Silver states that, “The detailed geophysics analysis undertaken by Reed gives us further comfort that we are zeroing in on the source of high-grade surface gold, silver and copper mineralization. Despite the difficult market for all junior exploration companies we continue to enhance the value of our properties.”

During the fall of 2006, an airborne MEGATEM® geophysical survey was flown on the initial property by Fugro Airborne Surveys Corp. In 2007, further prospecting of MEGATEM anomalies took place. Samples collected in 2007 contained up to 2.4% zinc (Zn), 1.02% copper (Cu), 8.1% lead (Pb), 10g/t gold (Au) and 51 g/t silver (Ag) highlighting the potential for discovery of VMS (volcanogenic massive sulphide) ores.

During 2008, Fugro completed the flying of a GEOTEM® survey over the new Greyhound claim group. Results from this survey were utilized in an on-the-ground field program to complete geological mapping and sampling. Samples prospected during 2008 contained up to 4.1% Cu, 13.4% Zn, 8% Pb, 2,700 g/t Ag and 28g/t Au and to the northeast of Aura Lake a series of boulders contained up to 18.5% Zn and 9.2% Cu.

Montoro congratulates Kelly Strong, V.P. of Ontario and UK Operations -Vale, in the recent startup of the Totten Mine (Totten lies 40 km to the west of Sudbury and approx. 50 km from Pecors). This is Vale’s sixth operating mine in the Sudbury Basin. A polymetallic orebody with good nickel and copper grades as well as precious metals. Click following for the complete story: http://ow.ly/tLq2T. (See page 1 & 19-34 re the Totten Mine and page 15 re the KGHM Victoria Mine Projects)

The Uranium and Rare Earths discovered in the southwest portion at Serpent River may prove to be a sideshow to another deposit type. In a 2009 summary of the Ontario Geological Survey field work, a strong geophysical anomaly on the claims that was previously thought to be caused by an iron formation was reexamined. The new interpretation on the Pecors anomaly concludes it may be the result of contact style nickel-copper-PGE mineralization similar to that found to the east at Sudbury. Sediment sampling from Pecors Lake has shown high levels of nickel and chromium, lending further weight to this analysis. The total field magnetic anomaly strikes northwesterly and is about 15 km long and about 4 km wide.

Exploration & Development of the Pecors Anomaly:

Int. Montoro, Pele Mtn. & Verbina Resources completed a combined VTEM survey in January 2008. An operational report for this survey was written by the contractor Geotech Ltd. in February 2008, Project 7112.

May 5, 2010; Int. Montoro commissioned a report on the southern claims group of the Serpent River Property from L.E. Reed Geophysical Consultant Inc.

May 20, 2011; Int. Montoro initiates a search for and locates 4 historic boreholes PW #116, 117, 121 & 122 drilled by Rio Algom in 1959 on the eastern side of Pecors Lake. Holes PW 121 & 122 drilled along the south and southwestern edge of the Pecors Anomaly, penetrated the Huronian sediments and encountered underlying basement rocks at depths of 2002 feet (610 meters) and 1477 feet (450 meters) respectively. Information from the drill holes provides some corroboration of the depths from the 3D model as reported in the July 6, 2011 report following.

July 6, 2011; Int. Montoro commissions a report ‘Response of the Pecors Magnetic Anomaly‘ from L.E. Reed (“Reed”) Geophysical Consultant Inc. Reed ran the anomaly through a 3 dimensional inversion program (UBC, Mag3D) to develop an understanding of the three-dimensional shape and distribution of the source body for this anomaly. Measurements through a section in the center of the anomaly show a depth of 300 to 400 meters to the top and as much as 1700 meters from surface to the bottom of the magnetic source body. It appears as a broad sill, possibly an intrusion. The maximum dimensions of the entire inversion block are estimated at 7.8 km EW x 3.45 km NS and 2.025 km from surface. Select portions of the Reed Interpretation report are posted on the updated Serpent River project page on the Company website at www.MontoroResources.com

February 2014; Int. Montoro is actively engaging stakeholders in the Sault St. Marie & Sudbury Mining Districts to proactively move forward the exploration of the Pecors Magnetic Anomaly.

Other:

Neighboring explorer, Pele Mountain Resources (TSX VENTURE:GEM), has provided the results of an updated economic review of its Eco Ridge Mine rare earth and uranium project in Elliot Lake, Ontario. In its news release dated September 12, 2013, Pele Mountain reports the economic review concludes that the recent increase in mineral resources extends mine life and improves project economics. While this improvement is offset by a reduction in rare earth price forecasts, the net result demonstrates that Eco Ridge economics remain positive.

Int. Montoro is also seeking interested parties in continuing the development of the Serpent River southern portion of its rare earth and uranium property adjoining Pele Mountain’s claims east of Eco Ridge.

Caza Gold Corp. announces that the Company has initiated the 2014 exploration program at the Los Andes and Pochote properties in Nicaragua. The Company is planning a large airborne geophysical survey and a drilling program which will test 2 of the highest priority gold targets.

Plans are underway to complete a geophysical survey along a 12 kilometer long trend of continuous alteration within the Los Andes and Pochote claims, followed by a drilling program to test two gold targets not previously drill tested during the 2012 Pedregal program. The upcoming drilling will test the Quisaltepe and San Francisco gold zones. Access agreements have been obtained for the San Francisco area and drill access road construction is underway. Negotiations for access in the Quisaltepe area are being finalized. The drilling program is expected to begin, pending contractor scheduling, by April and is planned to complete approximately 10 to 15 holes each 200 to 250 meters deep. A dedicated budget of approximately CDN$1.3 million has been set aside from the proceeds of the December 2013 CDN$2.5 million financing to execute the exploration program.

The Company has contracted Aeroquest Airborne to complete the helicopter based geophysical survey which will cover approximately 36 square kilometers over the Pedregal, Quisaltepe and San Francisco gold targets acquiring versatile time domain electromagnetic (VTEM) and magnetic data along approximately 530 line kilometers at 100 meter line spacing. The survey is scheduled to begin in March pending the importation of the survey equipment and final scheduling of personnel and equipment. Geophysical survey results in conjunction with geochemical results, structural and alteration mapping will further define the drilling locations.

The VTEM and magnetic data are targeting the conductive massive sulfide horizons and the resistive silicified zones associated with large faults and possible areas of gold mineralization. The magnetic portion of the survey will provide additional information identifying the fault zones and deeper porphyry style mineralization and intrusive bodies. The survey will cover the Pedregal area, drilled in 2012, which intersected thick horizons of sulfide mineralization and strongly silicified zones with elevated but sub- economic gold concentrations (refer to Nov. 29, 2012 news release for details) and along the 10 kilometer trend to the San Francisco target at the south end of the zone.

Los Andes High Sulfidation Gold Property, Nicaragua

The Los Andes Property is located approximately 1 hour east of Managua on Highway 7 with excellent access. The property covers approximately 6,575 hectares and is strategically located within the Central Nicaragua Gold Belt between the El Limon and La Libertad Mines of B2 Gold.

The Los Andes property is a high-sulfidation style of gold mineralization. High-sulfidation gold systems host some of the largest gold deposits in the world with examples such as Yanacocha and Pierina in Peru. Favorable alteration and mineralization has been traced along the regional northeast trending Los Andes structure for at least 11 km on the Los Andes property. The extensive alteration system is exposed on the surface and consists of very strong silicification associated with zoned alteration from higher temperature advanced argillic zones surrounded by successively lower temperature argillic, and propyllitic alteration. The alteration is associated with anomalous values of gold, silver, and highly anomalous levels of indicator metals such as bismuth, tellurium, selenium, arsenic, antimony, and mercury.

Drilling on the “B” Block property has resulted in the discovery of wide spread gold-silver-zinc-copper mineralization. No mineral resource calculations have been done on the property. Drilling to date has been relatively wide spaced and shallow. All known mineralized intercepts lie within 400 metres of surface. Less than 5% of the drilling on the property has been done below the 400 metre below surface level.

The property is positioned in the eastern portion of the developing Rainy River district. The south edge of the property is located approximately 350 metres north of the near surface position of the Intrepid shoot, located on ground controlled by New Gold. The Intrepid shoot is a SW plunging, robust zone of gold-silver mineralization that has been jointly delineated by Bayfield Ventures and Rainy River Resources since its discovery by Bayfield in December 2011.

Mineralization on the “B” Block is contained within a package of NNE striking, vertically dipping, strongly foliated, sheared and locally folded dacite porphyry wall rocks. Pervasive sericite-silica +/- biotite alteration is developed within the dacite package. Sericite is dominant in the southern half of the property while biotite and silica are well developed in the northern portion.

The interlayered dacite porphyry, argillite and mafic volcanic lithology of the known rock package at the “B” Block are very similar to that found by Bayfield at its nearby Burns Block property. Additionally, discovered gold-silver-base metal mineralization at the “B” Block is hosted within highly foliated dacite intrusive and or volcanic rocks, again, a setting very similar to that at the Burns Block and at other well mineralized zones along the developing district-scale trend.

The drilling of a series of NW trending angle holes across the SW flank of the strong VTEM anomaly in the northern portion of the “B” Block property is also recommended. Drilling in the heart of the anomaly completed in 2013 showed a rock sequence nearly identical that which overlies the Intrepid Shoot in the eastern portion of Bayfield’s Burns Block project.

The survey was flown in two distinct blocks, an eastern block covering the Burns and “B” Block exploration areas and a western block covering the large “C” Block exploration area. Interpretation of the preliminary data is complete and the following drill targets have been identified:

• A strong, discrete conductor in the east-central portion of the Burns Block has been identified and will be drill tested. No previous drilling has been done in this portion of the property. The anomaly is located in the same area as the multi gram surface samples reported above.

• A strong, discrete conductor in the northeast portion of the “B” Block has been identified and will be drill tested. No previous drilling has been done in this portion of the “B” Block property.

• The cesium magnetic data from the “C” Block survey show clear evidence of mafic volcanic rocks in the northern portion of the property. These rocks are separated from interpreted intermediate volcanic rocks by a sharp contact that is very likely a fault. The interpreted fault contact and the area of interpreted intermediate volcanic (dacite or equivalent) rocks present top quality drill targets at the “C” Block. Drill testing of this area is planned for the first quarter.